![]() ![]() Students of economics and finance may find his subversive take on traditional economic and finance theory entertaining or irritating, as he reports of many of his colleagues. The author largely makes his point through the use of anecdotes and studies, making this 400-page book on economics a quick and pleasant read. Over the course of the book, Thaler lays out the many ways “Human” behavior differs from the perfectly rational behavior of “Econs,” the actors used in most economic models, and how incorporating more realistic assumptions into these models can benefit people in tangible ways. Thaler argues that “misbehavior,” which he defines as “behavior inconsistent with the idealized model of behavior in economic theory,” is absent from traditional economic models, with harmful effects. ![]() ![]() Richard Thaler, a professor at the University of Chicago and behavioral economist, recaps his career-long endeavor to establish and legitimize behavioral economics in his latest book, Misbehaving. ![]()
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